Quote from: CosmicVibe on June 11, 2017, 02:11:59 PM

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That growth can't go on forever.

Important words there. I'm still struggling to understand why so many people denies the idea that we are in the third big bitcoin bubble. Every single time it went parabolic in the past, it went downhill pretty hard after. I understand each bubble has their context and this one is particularly bullish thanks to world wide media attention, but it will probably end. However maybe we are only halfway through and it might rise up to 4k or 5k, nobody knows

a commodity only value is to be used and consumed like gold, silver, oil, etc otherwise is worth zero, nothing. Bitcoin has no use at all as a commodity. Perhaps as a way to protect against devaluing currencies but that's a very risky proposition with BTC wild price swings. Its previous use in black market transactions is now being replaced by ALT coins. For example the hacker group Shadow Brokers only takes zcash. Alpha Bay has added monero and as of july 1st zcash. As such the future of bitcoin is very dark. For every dollar you spend in BTC someone has to replace it with another dollar otherwise BTC value will go down by a dollar. It really doesn't matter where it trades now, its all speculation. But the rise of ETH, XMR, ZEC and others shows where the market is going and what the market needs are. Unless people starts to be paid in crypto (the replenishment I talked before) the prices will go down once the speculators leave the room.